CHARLESTON, SC — DEC. 8, 2023 — Moody’s Investors Service reaffirmed South Carolina Ports’ A1 credit rating, reinforcing the credit agency’s confidence in SC Ports’ long-term growth trajectory and favorable market position.
“South Carolina Ports’ mission is to drive economic growth in South Carolina for the benefit of our businesses and citizens,” SC Ports President and CEO Barbara Melvin said. “The A1 rating from Moody’s reaffirms their faith in the financial management of South Carolina Ports, which is critical to our long-term planning and future success.”
The ongoing shift of people and businesses to the Southeast, coupled with the thriving industrial activity in South Carolina, continues to drive growth at SC Ports, the credit agency reported in its opinion. SC Ports has invested in critical infrastructure projects to support this growth, ensuring it can efficiently handle goods for customers.
The State of South Carolina’s unwavering support for the port system and its infrastructure investments gives yet another reason for economic confidence, Moody’s reported. Melvin said that the SC Ports Board of Directors’ strong business acumen and attention to fiscal responsibility is also critical to the port’s success.
The credit agency also noted that SC Ports’ operating model yields productive operations and keeps SC Ports competitive as a top 10 U.S. container port.
About South Carolina Ports
South Carolina Ports owns and operates marine terminals at the Port of Charleston and two rail-served inland ports in Greer and Dillon. As the 8th largest U.S. container port, SC Ports connects port-dependent businesses throughout the Southeast and beyond to global markets. SC Ports proactively invests in infrastructure ahead of demand to provide reliable service, efficient operations, cargo capacity, an expansive rail network and the deepest harbor on the East Coast at 52 feet. SC Ports is a vital economic engine for South Carolina, with port operations supporting 1 in 9 jobs statewide. Learn more: scspa.com.